Your older brother turned 37 today, and he is planning to save $20,000 per year for retirement, with the first deposit to be made one year from today. He will invest in a mutual fund that's expected to provide a return of 5.5% per year. He plans to retire 28 years from today when he turns 65, and he expects to live for 35 years after retirement, to age 100. Under these assumptions, how much can he spend each year after he retires? His first withdrawal will be made at the end of his first retirement year.